We are starting earnings season and this just might be the most important earnings season I have ever seen.  Perhaps the earnings seasons right after the 2008 financial crisis were more important, but this one is up there.  I did learn that in the post-financial crisis earnings seasons, U.S. companies and their CEO's are really, really good at their jobs.  They made all kinds of moves to bolster earnings and they worked.  It will be more than interesting to see how these upcoming reports look.

So far, JP Morgan and General Motors have given us some really positive reports as earnings season begins.  But there are a lot of companies left to report.